Yes. I don't recommend it though. You'll get lucky and catch some big moves until you get trapped. You need at a bare minimum a momentum indicator with the default numbers reduced to navigate trend changes. Nearly every trend change traps traders in both directions: jump-starters hoping for the 15 minute 10% rally, and conservative position or swing traders covering but caught off guard trying to re-enter in the same direction. Volume in these instances also helps tip clues. If you insist: look for better than 30% and 50% retraces and then expect traps until advantage is regained. One word: "response". Rally...Test.
Al Brooks is the guy. Here is a free webinar: http://www.bigmiketrading.com/webinars/jun29_2011/al_brooks_price_action/
I use price only with some math on the side and proper chart configurations. 296 cents today out of CL gyrations. Just trade structure of the market , price always must go up and down. 1 min chart is only for illustration, not what I use.